Westpac NZ Perpetual Preference Share Offer Closed

Following the successful bookbuild process for its offer of perpetual preference shares (PPS), Westpac New Zealand Limited (WNZL) confirmed today that the offer has closed and NZ$375 million of PPS have been allocated to participants (or their clients) in the bookbuild process. The Margin for the PPS has been set at 3.50% per annum. The Distribution Rate for the first 5 years, until the First Optional Redemption Date (13 September 2029), will be equal to the sum of the Swap Rate plus the Margin and will be announced via NZX later today, along with the release of the final terms sheet. For further information, please contact a Joint Lead Manager (listed below) or your usual financial advice provider. Arranger and Joint Lead Manager Westpac 0800 772 142 Joint Lead Managers BNZ 0800 284 017 Craigs Investment Partners 0800 272 442 Forsyth Barr 0800 367 227 Jarden 0800 800 372 Authorised by: Name: Ollie Williams, Treasurer, Westpac New Zealand Limited. Contact Details: (+64 9) 348 9995 The contact person for this announcement is: Name: Ollie Williams, Treasurer, Westpac New Zealand Limited. Contact Details: (+64 9) 348 9995